American Growth Funding II LLC and Ralph Johnson— Misrepresentations Regarding Company’s Management and Loan Book
American Growth Funding II LLC and Its Owner Ralph Johnson Allegedly Made Misrepresentations Regarding Company’s Management and Concealed Value of Its Loan Book
American Growth Funding II LLC (AGF II), a Manhattan-based lending company, and its owner Ralph Johnson, allegedly orchestrated misrepresentations about the company’s management and hid details about the declining value of AGF II’s loan book, according to a recent SEC Complaint currently under review by attorneys Joe Peiffer and Jason Kane.
AGF II’s placement agent Portfolio Advisors Alliance (PAA), also of New York City, and its owner Howard Allen and President Kerri Wasserman are also believed to have taken part in AGF II’s purported scheme, said SEC Complaint reports.
The Peiffer Wolf Carr & Kane securities lawyers are currently investigating American Growth Funding II LLC and Ralph Johnson and their alleged material misrepresentations.
AGF II’s Placement Agent Portfolio Advisors Alliance and Its Owner Howard Allen and President Kerri Wasserman Allegedly Took Part in AGF II’s Scheme, Raising Approximately $8.6 Million from Investors
Allen and Wasserman allegedly knew that offering documents which began circulating in March 2011 were inaccurate but they still allegedly used them to sell AGF II securities in a private placement offering until December of 2013, according to said SEC Complaint presently being reviewed by attorneys Joe Peiffer and Jason Kane.
Over the aforementioned two and a half years, said private placement offering raised approximately $8.6 million from investors, the SEC reports.
AGF II, PAA, Johnson and Allen have been charged by the SEC with violating sections of the Securities Act and the Securities Exchange Act, in addition to charging Johnson, Allen, and Wasserman with allegedly aiding, abetting, and control person liability.
Securities Lawyers Investigating
The Peiffer Wolf Carr & Kane securities lawyers often represent investors who lose money as a result of misrepresentations, and are currently investigating American Growth Funding II LLC and Ralph Johnson’s alleged investment scheme. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of American Growth Funding II LLC and Ralph Johnson’s alleged scheme may contact the securities lawyers at Peiffer Wolf Carr & Kane, Jason Kane or Joe Peiffer, for a free no-obligation evaluation of their recovery options, at (585) 310-5140.